OpenFX Raises $23M to Reinvent Cross Border Payments
Fintech startup OpenFX has officially stepped into the spotlight with a $23 million funding round aimed at shaking up the global foreign exchange market.
The round, led by Accel, will fuel the company’s mission to build a faster, smarter infrastructure for moving money across borders.
FX Secures $23M to Speed Up Global Money Transfers
Founded by Prabhakar Reddy, the former COO and co founder of FalconX, OpenFX blends traditional finance with cutting edge technology to slash the time and cost of foreign currency transactions.
Since early 2024, OpenFX has quietly processed more than $10 billion in annualized volume, serving digital banks, global payroll platforms, remittance services, and brokerages.
“We’re designing financial rails built for the AI-driven economy,” said Reddy. “Money should move as quickly as data without being slowed down by time zones, banking hours, or legacy systems.” The funding round also included participation from NFX, Lightspeed Faction, Castle Island Ventures, Flybridge, and Hash3, among others.
With this capital, OpenFX plans to expand into Latin America and Asia, introduce new treasury tools, and strengthen its regulatory footprint across key markets.
As API based systems dominate over 70% of internet traffic and global commerce becomes increasingly real-time, OpenFX is positioning itself as the engine behind the next wave of cross-border financial innovation.
